Refinery 29 has been acquired by Sundial Media Group, a company owned by Black individuals.

Sundial Media Group, owned by Richelieu Dennis, has made an exciting announcement regarding their expanding portfolio. The company has officially acquired Refinery 29, a popular platform that centers on women and has a vast audience. This is a significant addition to SMG, which already houses several platforms focused on Black and women's issues such as Essence, Afropunk, Girls United, and BeautyCon. Refinery 29 was previously owned by Vice Media Group, and there were rumors that Dennis was also in talks to purchase Revolt TV from Sean "Diddy" Combs.

In a press release obtained by Afrotech, it was revealed that Refinery 29 will continue to operate as a standalone entity within SMG. Dennis expressed his excitement about welcoming the platform into their media family, stating that they are building an expansive ecosystem at Sundial Media Group. He also believes that Refinery 29, with its incredible team and brand, will play a crucial role in reimagining how media caters to the need for connection, culture, and commerce in the diverse communities of the New General Market.

As part of the acquisition, Refinery 29 will have a new CEO to lead and grow the platform. Cory Haik, who was previously the chief operating officer at Vice, will now take on this role and further amplify the platform's reach and female-driven voice. The announcement was met with congratulations from Essence, another platform under SMG, showing support and solidarity as Refinery 29 transitions and aims to thrive with its new media company.

In an Instagram post captioned by Essence, they expressed their excitement and officially welcomed Cory, the Refinery 29 team, and their community to the SMG family. They also mentioned that while they recognize and will maintain the unique offerings of each brand, they will also activate the synergies that unite them and continue to make a positive impact for generations to come.

The post ended with an African proverb that perfectly summarizes the collaboration between the two brands – "If you want to go fast, go alone. If you want to go far, go together." Essence also shared that they can't wait to see what the future holds for the two brands as they come together to make a difference.

Although there is no news of any upcoming collaborations, this acquisition is undoubtedly a significant milestone for the Black-owned media conglomerate. It is a testament to their success and growth as they continue to make game-changing moves in the industry.

[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]